You hear about it in the news, you participate in the local economy as aconsumer, and you feel the impacts of the global economy in your daily life.In this course, you¶ll be introduced to fundamental

economic concepts

and the

economic way of thinking

. Akey feature of this course is the application of economic reasoning to real world problems. My goal is that bythe end of the semester, you¶ll have the tools and skills to make sense of the economic events that impact your life.We¶ll be discussing a wide variety of topics this semester. At the end of the semester, you should be able to:Additionally, you should be able to describe the interpretation of basic economic

data and statistics

.

Identify/define the

fundamental conceptsof economics

includingincentives, opportunitycosts, marginalanalysis, and prices.

ch 1-2

Apply

Supply andDemand analysis

toevaluate market changesand economic problems.

ch 1

Identify/define the

roleof the government

in a market economyand the effects of variousgovernment regulations onmarket outcomes.

ch 2, 3, 4, 8

Describe themechanics behind theUS¶s

monetary policyand fiscal policy

.

ch 9, 10

Describe theinterpretation of

fundamental macroeconomic

variables

(including GDP, inflation,unemployment, and productivity).

ch 6, 7, 9

Identify/definethe fundamentalconcepts of

international

trade andinternational finance

.

ch 11, 12, 13

2

Additional Learning Objectives

Since this course satisfies a General Studies requirement, you¶ll also work to meet the following:

y

Demonstrate the

ability to locate sources

when information is needed, and to evaluate the authenticity,validity, and reliability of resources applied to a specific purpose

-

You¶ll complete a source ³scavenger hunt´ assignment as homework.

y

Analyze texts, sources, and argumentation,

identify cause and effect relationships

and recognizefallacies of argument-

O

ur market analysis and incentives/unintended consequences topics will be tools that you will use to demonstrate cause and effect relationships.

y

U

se and

document sources

and evidence in an

ethical manner

-

A

s part of exams, you¶ll write an essay based on a current event. You¶ll properly cite the source.

y

Describe how the

methods of science

are used to generate new knowledge-

T

his course teaches you about economic models and how they are scientifically derived.

y

Describe the forms and

impacts of

geographical conditions or social,

economic

, financial, or political

practices on the human experience

using analytical methods appropriate to the field.-

T

hroughout the course we¶ll be exploring the impact of economics on the human experience. We¶ll use theory, data, algebra, and graphical analysis.

3

Course Learning Activities

In order to assist you in meeting the course learning objectives, course activities will include:

Participation10%

D

aily

To prepare for

daily class participation

, the successful student will read the text or listen tothe pod casts in advance, bringing notes to class, and complete any assigned prepwork questions. To receive credit for class participation, students should actively contribute todiscussion and solving in-class problems.

Homework 30%

D

ue throughout the semester

Homework assignments

will be posted on our course BlackBoardsite. Due dates will be announced in class and posted in theannouncements section of BlackBoard. Late homework is acceptedat a grading penalty.

Exam 115%

F

ebruary 20

th

Exam 1 will cover

chapters 1-6

. It will consist of multiple choice, problems, and anessay.

Exam 215%

M

arch 28

th

Exam 2 will cover

chapters 7-13

. It will consist of multiple choice, problems, and anessay.

Exam 330%

G

iven during

F

inals Week ± according tothe

A

uraria Campus schedule.

Exam 3 has two parts.

Part 1 will cover special topics from classes 4/2 ± 5/2.Part 2 will cover material from chapters 1-13 from the textbook.